Amid global concern about COVID-19, we will continue to be here for our customers.

As people and companies all across the country take additional preparations to protect against the Coronavirus (COVID-19), we acknowledge that your mortgage concerns will likely not be taking a break. At this time, we will remain open full-time and will continue to service our customers with the same fast response times you’ve come to expect from us.

Due to the increasing number of reported cases in the U.S., we are continuously monitoring the situation. We will also continue to actively assess the necessary actions we need to take in order to ensure the health and safety of our customers, employees, and their families.

We hope that you will join us in taking some basic and important measures, such as frequent hand washing, to keep communal risk low.

Living in Seattle

Surrounded by mountains and bordering the sea, Seattle is Washington State's largest city and is home to around 730,000 residents. The surrounding area includes the cities of Bellevue, Redmond, Kent, Everett, Tacoma, Sammamish, Issaquah, and West Seattle. Each of these communities has its own distinctive character, making for a thriving metropolitan region.

What is it like to live and work in Seattle or the surrounding area?

Below, you can learn about the cost of living, employment market, commute times, housing prices and more. While the focus will be on Seattle, we will also discuss Bellevue and the nearby area.

What is the Cost of Living in Seattle?

Seattle is one of the more expensive places you can live. Sperling's Best Places rates cost of living for locations across the country on a scale where the US average is 100. Those which rate below 100 are less expensive than average, and those which rate above 100 are pricier than average.

Seattle has a rating of 204. Bellevue is even more expensive with a rating of 231.7. For comparison, the rating for Washington state is 131. So it is more expensive to live in Washington than many other US states, but the Seattle metropolitan region is where the higher costs are largely focused.

What makes for these higher costs? The answer is housing. Utilities and health costs are actually less expensive in Seattle than in other parts of the country. Transportation costs are significantly higher. Grocery expenses are about average. But with housing, there is a huge difference.

Housing, like overall cost of living, is rated on a scale where 100 is the nationwide average. The state of Washington ranks in at a rating of 198so housing prices across the state are quite high.

But in Seattle, they are a whopping 407. Bellevue housing costs are rated at 504. So it is extra-important when you are shopping for a home in this area to make sure that you are getting the best possible rates and terms on your mortgage.

How Much Will You Pay in Taxes in Seattle?

One expense we haven't talked about yet is taxes. If you are living anywhere in the state of Washington, you are lucky enough to be paying no individual income tax. If you operate a business however, you will owe business and occupation tax on your receipts.

So that is excellent news. This helps to offset the high cost of housing in Seattle, Bellevue, and the surrounding communities. Sales taxes however can be high, ranging between 7.49% and 9.98% according to data 2017.

The Seattle Employment Market

What can you expect as far as the job market goes in Seattle and the surrounding area? Here, you can be optimistic. Sperling's Best Places reports that the unemployment rate for Seattle is 4%, which is significantly lower than the nationwide average of 5.20%. Unemployment in Bellevue is just 3.90%.

Additional insights are provided by the US Census. The Census reports that the median household income as of 2017 in Seattle was $79,565. The per capita income during that same timeframe was $51,872. 12.5% of the population was impoverished.

Sperling's Best Places to give slightly different estimates, stating that average household income in Seattle is $67,365, and that income per capita is $44,167. Regardless, both these figures and those provided by the Census are significantly higher than the average income for the United States.

While Bellevue is a more expensive housing market, this is offset by higher incomes. Sperling's Best Places lists an average household income of $92,524 and a per capita income of $50,405.

What Does the Average Home Cost in Seattle?

According to Sperling's, the median cost for home nationwide is $216,200. The median housing cost state wide in Washington is $370,000. In Seattle, it is $761,800. In Bellevue, it is $941,700.

Because this is such a competitive housing market, even with a solid income, purchasing a home here is a major investment. You will want to take your time shopping for mortgages so that you can find one which will fit your budget now and over the years ahead.

How are Seattle Schools?

According to Sperling's, the median cost for home nationwide is $216,200. The median housing cost state wide in Washington is $370,000. In Seattle, it is $761,800. In Bellevue, it is $941,700.

Because this is such a competitive housing market, even with a solid income, purchasing a home here is a major investment. You will want to take your time shopping for mortgages so that you can find one which will fit your budget now and over the years ahead.

Getting Around Seattle

There are a number of public transportation options in Seattle. These include the Sounder commuter rail, the Link light rail system, and the RapidRide bus system. Those who enjoy walking to get from place to place will also be pleased to learn that Seattle has received high marks in that regard.

Average commute times in Seattle are quite reasonable. Traveling one direction, it takes workers in Seattle an average of 22 minutes to reach their destination. The US average is four minutes longer. Commutes are much shorter in Bellevue, with a round trip taking only 20 minutes on average.

Leisure and Entertainment in the Seattle Area

In downtown Seattle, you will find plenty of diversions await you, including the towering Space Needle, the bustling Pike Place Market, the Museum of Pop Culture, the Chihuly Garden and Glass, and much more. Bellevue is home to the Museum of Flight, the Bellevue Botanical Garden, and other exciting destinations.

Prefer the splendor of nature? Go hiking in the Olympic National Park or North Cascades National Park, or take advantage of the numerous opportunities for fishing, boating and other water-based activities in your own backyard. You never will run out of things to see and do.

Make Your Dreams of Living in Seattle, Bellevue or Anywhere in Washington State a Reality

Blue Square Mortgage has more than 25 years of experience in the mortgage business. We are experts on the Washington housing market, particularly the high-demand neighbourhoods in Seattle and Bellevue.

We can connect you with an affordable mortgage and close fast so that you do not miss out on your chance to purchase your Washington dream home. Ready to turn that dream into a reality? We cant wait to help you out. Please call (206) 352-6453 to schedule your consultation.

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What Our Clients Say

Blue Square Mortgage

I just can't say enough good things about Mike Peacore and his dedication to his clients. Mike found us financing after a bitter experience with a high profile broker who turned us away after glancing at our financials: the issue being years of self-employment. With Mike's assistance, we were able to follow our strategy of buying a smaller place before marketing our existing home. Five stars aren't enough!

In short, Blue Square Mortgage was the driving force on my home closing. Mike, at Blue Square Mortgage was referred by a friend who had worked with Mike on prior home purchases. Mike worked tirelessly with my fiance and I to ensure that we were getting the best possible mortgage rate for our first home purchase. His business acumen and industry experience was easily identified in our first phone call, where he explained the in's and out's of lender proceedings for a first time home buyer. Mike is an expert is what he does, and brought a very personal touch to a transactional process. There is no doubt I will be working with Mike and Blue Square Mortgage again when the time comes to purchase a new home.

Blue Square Mortgage has helped us secure a couple new home loan and refinance our existing loans. I know I can count on Mike Peacore to diligently track down all the required paperwork and make the loan happen. Mike is very helpful and knowledgeable about rates and loan options. I highly recommend Blue Square Mortgage.

Mike is extremely professional, knowledgeable, straightforward and a great communicator. I have known and have worked with Mike for 25+ years. He is driven to accomplish all your needs and goals. Both new and returning clients stay with Mike and highly recommend him. Mike is easy to recommend to others for all their mortgage needs!

I have used Blue Square for years and Mike is consistently up to speed on rates, what banks/credit unions are doing and why to use certain ones and not others, and always helpful. He will not only coach you through the process, but if you are not an attorney and are not super detailed, this is your company. He makes sure you understand (in regular terms) what the sheets are for and how the process works....GREAT experience.

Blue Square Mortgage is located on 4212 33rd Ave W, Seattle. From Seattle-Tacoma International Airport (SEA) head southeast on Airport Expressway toward Departures Dr and use the left lane to keep left. Then keep left and slight left onto Airport Expressway. Keep left at the fork, follow signs for WA-509/WA-518 W and merge onto WA-518 W. Next, merge onto WA-518 W and take the exit onto WA-509 N toward Seattle. WA-509 N turns slightly left and becomes Hwy 99 N/E Marginal Way S. After that continue straight onto Aurora Ave and turn right onto Halladay St. At this point turn right onto 6th Ave N and turn left onto Dexter Ave N. Head straight for 0.5mi and turn left onto Nickerson St. Then continue straight to stay on Nickerson St and continue straight onto W Nickerson St. Finally, turn left onto W Emerson St and turn right onto Gilman Ave W. Continue onto W Government Way, turn left onto 33rd Ave W and Blue Square Mortgage will be on your left.

Blue Square Mortgage is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.